Investment Q&A

• PPL Corporation (PPL $35.98)
  • $35.98 Fwd P/E: 26.5X Cap: $26.32B
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• Constellation Software Inc. (CSU $4,984.83)
  • $4,984.83 Fwd P/E: 105.25X Cap: $105.63B
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• GDI Integrated Facility Services Inc. Subordinate Voting Shares (GDI $32.25)
  • $32.25 Fwd P/E: 20.54X Cap: $750M
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Q: Comments and your opinions on the latest earnings from Constellation, Pembina and GDI please.

Thank you

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Read Answer Asked by Marty on August 07, 2020

• Brookfield Infrastructure Partners L.P. (BIP.UN $44.36)
  • $44.36 Fwd P/E: 543.43X Cap: $29.23B
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Q: Can you please comment on this company's recently announced earnings and do you see it as a good long term hold? This stock is approximately 4% of my overall holdings. Thank you.

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Read Answer Asked by Brian on August 07, 2020

• Tricon Residential Inc. (TCN $15.34)
  • $15.34 Fwd P/E: 28.0X Cap: $4.50B
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Q: How do the results look ? Thanks,

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Read Answer Asked by Paul on August 06, 2020

• Keyera Corp. (KEY $44.19)
  • $44.19 Fwd P/E: 18.34X Cap: $10.12B
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Q: Your thoughts on their 1/4ly earnings, thanks

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Read Answer Asked by Greg on August 06, 2020

• Gibson Energy Inc. (GEI $24.82)
  • $24.82 Fwd P/E: 25.12X Cap: $4.06B
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Q: Good morning, thoughts on the quarter please. How would you rank vs. other energy infrastructure stocks?
Thanks
Rob

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Read Answer Asked by Robert on August 06, 2020

• Maple Leaf Foods Inc. (MFI $30.37)
  • $30.37 Fwd P/E: 40.45X Cap: $3.76B
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• Premium Brands Holdings Corporation (PBH $90.51)
  • $90.51 Fwd P/E: 33.42X Cap: $4.06B
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Q: Which do you prefer?

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Read Answer Asked by GRAHAM on August 06, 2020

• BCE Inc. (BCE $32.50)
  • $32.50 Fwd P/E: 78.86X Cap: $29.64B
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• Enbridge Inc. (ENB $61.88)
  • $61.88 Fwd P/E: 22.77X Cap: $134.89B
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• Pembina Pipeline Corporation (PPL $51.10)
  • $51.10 Fwd P/E: 16.68X Cap: $29.68B
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• RioCan Real Estate Investment Trust (REI.UN $17.77)
  • $17.77 Fwd P/E: 20.56X Cap: $5.31B
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• Capital Power Corporation (CPX $60.50)
  • $60.50 Fwd P/E: 12.66X Cap: $8.23B
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• Transcontinental Inc. Class A Subordinate Voting Shares (TCL.A $20.07)
  • $20.07 Fwd P/E: 9.56X Cap: $1.67B
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• Acadian Timber Corp. (ADN $17.99)
  • $17.99 Fwd P/E: 16.17X Cap: $319M
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• Fiera Capital Corporation Class A Subordinate Voting Shares (FSZ $7.01)
  • $7.01 Fwd P/E: 22.03X Cap: $762M
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• Exchange Income Corporation (EIF $65.57)
  • $65.57 Fwd P/E: 26.63X Cap: $3.36B
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• Evertz Technologies Limited (ET $12.08)
  • $12.08 Fwd P/E: 15.76X Cap: $930M
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Q: With a 5-10 year time horizon, can you recommend any dividend stocks which have stable dividends and high yields due to current market conditions? I think that RioCan and Enbridge both fall into this category and would be interested in similar stocks that have a yield in the 8-10% range.

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Read Answer Asked by Jamie on August 06, 2020

• Kinder Morgan Inc. (KMI $27.88)
  • $27.88 Fwd P/E: 23.7X Cap: $61.95B
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• Enbridge Inc. (ENB $61.88)
  • $61.88 Fwd P/E: 22.77X Cap: $134.89B
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• AltaGas Ltd. (ALA $40.86)
  • $40.86 Fwd P/E: 21.56X Cap: $12.21B
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Q: How would you rank these three companies in terms of growth, and safety. I am not too keen about dividend as I do not need the income. However, I am concerned about preservation of capital. Please explain.
Thank you

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Read Answer Asked by satish on August 06, 2020

• Stingray Group Inc. Subordinate Voting Shares (RAY.A $10.40)
  • $10.40 Cap: $725M
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Q: Would appreciate your comments on Stingray 2nd quarter results. Is it worth continuing to hold? Was their any discussion in the conference call of taking the company private? Thanks

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Read Answer Asked by Gordon on August 05, 2020

• Enbridge Inc. (ENB $61.88)
  • $61.88 Fwd P/E: 22.77X Cap: $134.89B
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• TC Energy Corporation (TRP $65.52)
  • $65.52 Fwd P/E: 15.58X Cap: $68.09B
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Q: I've owned both these for over 11 years now and have been very happy with net returns (dividend compounding + capital). Not overweight at all: 1300 shares of each - added to over the years on weakness. My concern is the hysteria over climate change and governments actions and potential actions that have hurt O & G companies. I believe that both these companies have large investments in utility businesses and plans to expand that part of their business. Q: should I continue to hold them, add to ENB (price low), or leave my positions alone.

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Read Answer Asked by James on August 05, 2020

• Alaris Equity Partners Income Trust (AD.UN $19.14)
  • $19.14 Fwd P/E: 4.67X Cap: $879M
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Q: In regards to my vote for Alaris converting to an income trust amoungst other matters. In your opinion, what would be in the share holders best interest. I hold my shares in an unregistered account. Could move them in kind to a tfsa or rsp account though.

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Read Answer Asked by Anthony on August 05, 2020

• AltaGas Ltd. (ALA $40.86)
  • $40.86 Fwd P/E: 21.56X Cap: $12.21B
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• TransAlta Corporation (TA $16.95)
  • $16.95 Cap: $4.92B
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Q: Could you comment on the latest earnings and provide outlooks. Will you say that both will follow the Canadian utilities index?
Thanks

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Read Answer Asked by Daniel on August 05, 2020

• Pembina Pipeline Corporation (PPL $51.10)
  • $51.10 Fwd P/E: 16.68X Cap: $29.68B
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Q: Hi 5i guys,

RE: Capital loss .. attribution rules .. taxable account.

Am underwater on PPL and am considering selling at a loss and buying a similiar company in the sector i.e. ENB or TRP.
Is this allowed for CRA purposes ?
Thanks as alway,
Steve

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Read Answer Asked by STEVEN on August 04, 2020

• Fortis Inc. (FTS $64.85)
  • $64.85 Fwd P/E: 19.51X Cap: $32.52B
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• Algonquin Power & Utilities Corp. (AQN $8.12)
  • $8.12 Cap: $6.19B
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• Brookfield Renewable Partners L.P. Limited Partnership Units (BEP $27.20)
  • $27.20 Cap: $17.67B
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Q: If my first objective is capital appreciation, how would you rank these three? Second question, my perception is that FTS isn't as "renewable" compared to BEP and AQN. How would you compare FTS to the other two in this regard?
Thanks.

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Read Answer Asked by Albert on August 04, 2020

• Exchange Income Corporation (EIF $65.57)
  • $65.57 Fwd P/E: 26.63X Cap: $3.36B
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Q: Just curious as to your opinion about the acquisition. It is purportedly immediately acretious and seems like a good fit for them, yet EIF is down on a generally up day.
Thanks!
Paul K.

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Read Answer Asked by Paul on August 04, 2020

• TransAlta Renewables Inc. (RNW $12.48)
  • $12.48 Fwd P/E: 45.91X Cap: $3.33B
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Q: What do you make of Trans Alta Renewables? It has a payout ratio of 235%, Profit Margin of 25%, and ROE of 5%. It is funding a lot of new projects with debt.

Operation’s are in Canada, US, and Australia.

Thanks

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Read Answer Asked by David M. on August 04, 2020

• Enbridge Inc. (ENB $61.88)
  • $61.88 Fwd P/E: 22.77X Cap: $134.89B
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• TC Energy Corporation (TRP $65.52)
  • $65.52 Fwd P/E: 15.58X Cap: $68.09B
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Q: Hi, would you consider TRP overall less risk than ENB given it pipes more natural gas than oil and it has less growth projects and therefore execution risk?

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Read Answer Asked by Gary on August 04, 2020

• Air Canada Voting and Variable Voting Shares (AC $20.99)
  • $20.99 Fwd P/E: 4.87X Cap: $6.77B
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Q: Hello 5i,
Could you give me your long term analysis of Air Canada, it’s Covid response and where it should be in 5 -10 years.
Cheers,
Rick

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Read Answer Asked by Rick on August 04, 2020

• Air Canada Voting and Variable Voting Shares (AC $20.99)
  • $20.99 Fwd P/E: 4.87X Cap: $6.77B
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Q: Hi 5i,

Can you provide your assessment of AC's 2nd quarter results.

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Read Answer Asked by Vinod on August 04, 2020

• Toronto-Dominion Bank (The) (TD $101.01)
  • $101.01 Fwd P/E: 10.41X Cap: $175.12B
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• Bank of Nova Scotia (The) (BNS $75.76)
  • $75.76 Fwd P/E: 15.86X Cap: $94.23B
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Q: I have some cash to deploy in RRSP and wonder if now would be a good time to go a little overweight on these banks. The prices look good to me but are they really being undervalued or is the real impact of the pandemic on banks going to be bad.

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Read Answer Asked by David on August 04, 2020